Suspension of Wanda Hotel: revenue in the first quarter dropped by more than 40percent

category:Finance
 Suspension of Wanda Hotel: revenue in the first quarter dropped by more than 40percent


The board of directors of Wanda Hotel believes that the decline in revenue is mainly caused by the combined influence of three factors, including the new crown epidemic, the sale of projects and the decrease of project revenue.

Wanda hotel was formerly known as Hengli commercial real estate. In 2013, Wanda backdoor listing and renamed Wanda hotel development.

Previously, Wanda hotel development used to be Wandas overseas M & a platform, once holding projects such as London, Madrid, Chicago and gold coast in Australia. Domestic assets include Fuzhou Hengli city and Guilin Wanda Plaza. In 2017, Wanda sold off its assets in London, Sydney and other places, and sold 13 cultural tourism projects and 77 hotels to rongchuang and Fuli. Wanda cultural tourism and Wanda hotel management two light assets were injected into Wanda hotel development. In December 2019, Wanda hotel development announced the completion of the sale of 53% equity of Fuzhou Hengli city. In 2019, Wanda hotel will achieve an operating revenue of HK $812 million, a slight increase of 0.1% over the same period of last year; the net loss attributable to shareholders is HK $150 million, compared with the net profit of HK $767 million in the same period of last year, from profit to loss. Source: Netease Financial Editor: Wang Xiaowu_ NF

Previously, Wanda hotel development used to be Wandas overseas M & a platform, once holding projects such as London, Madrid, Chicago and gold coast in Australia. Domestic assets include Fuzhou Hengli city and Guilin Wanda Plaza.

In December 2019, Wanda hotel development announced the completion of the sale of 53% equity of Fuzhou Hengli city.

In 2019, Wanda hotel will achieve an operating revenue of HK $812 million, a slight increase of 0.1% over the same period of last year; the net loss attributable to shareholders is HK $150 million, compared with the net profit of HK $767 million in the same period of last year, from profit to loss.